Questions about COLONYBIT?

How to take ZERO FEE trading and use the platform for free?

To get these unique advantages, just be an accredited agent of COLONYBIT. In addition to having a modern and secure platform, our agents are free of fees, and do not pay anything in the negotiations. That being said, you can make as many transactions as you want, without paying any fees on them.

As a user, do I have to pay any fees to buy or sell cryptocurrecies at COLONYBIT?

As a user, to buy or sell Bitcoin at COLONYBIT, you only pay 1% fee on the total value of each transaction.

Can I register more than one bank account to my COLONYBIT account?

Yes, you can. There are no limited number of bank acconts you can register.

What is the payment method to buy my cryptocoins?

The payment method used, for now, is banking transfers. Soon we will have other options.

What are the cryptocoins available on COLONYBIT?

For now, we work exclusively with Bitcoins. But soon we will expand our portfolio, giving you more options.

Is the platform safe? How do I know that?

Yes, COLONYBIT is blockchain-based and developed in SHA-256, state-of-the-art technology and language, which guarantees the safety of the platform and our customers. In addition, all transactions on your account are held after you release their approval in your personal email.

How do sales transactions work on the platform?

Users and AGENTS can buy and sell Bitcoin. For both situations, simply create a "Sales Order" or "Purchase Order", entering the amount you want to buy or sell your crypto. After that, the announcement of this order will be available on the platform, so that all other users can access and negotiate directly with you.

After I finish the transaction, how do I update my payment status?

Just go to your order that you wish to update and upload a photo from the proof of payment of that transaction. Than you need to wait the buyer/seller to do the same.

After the transaction is concluded, how long it takes me to have access to my Bitcoin?

As soon as both people involved on the transaction, the buyer and the seller, update their payment status, the platform will automatically release the Bitcoin from/to your wallet.

How do I know that the the saller will not make a double offer with exactly the same Bitcoin that is offered to me?

On the moment you execute a selling order the platform automatically blocks the Bitcoin amount which was offered, already out from the seller bitcoin balance, making impossible to duplicate the Bitcoin offered. The Bitcoin only return to the sellers wallet, if the buyer do not make the payment within established deadline for the transaction.

What is the origin of COLONYBIT? How long have you been on the market?

COLONYBIT is a company founded in Hong Kong in 2017. The choice of location is strategic, as the region stands out for its advances in cryptocurrencies. But we are active in several countries, such as Paraguay, Peru and Brazil, where we started activities in 2018.

What is the deadline for payment of a negotiated order?

When negotiating any order, the deadline is 3 hours for the payment to be made. Within that period, the bank payment receipt must be attached on the platform, so the order can be finalized by the dealers.

What happens if I do not pay for the order within 3 hours?

It is important that every order be paid in the MAXIMUM of 3 HOURS. If there is no payment within that period, the order will expire automatically. The user will be instantly blocked in his WALLET and the equivalent amount to the FEE that would be charged if the operation was carried out normally, will be charged by the PLATFORM. In addition to that, the user may be prevented from issuing or accepting any ORDER, in a period of 7 (seven) days.

I made a purchase or sale order. But I want to cancel. It's possible?

Yes, as long as this order has not been negotiated, it is possible. With status still open, it can be canceled at any time within 30 days.

How long will my order be active on the platform?

The order is activated on the platform for a period of 30 days. After this deadline, it expires automatically, at no cost.

Do I pay anything to open my Colonybit account?

No, opening an account on Colonybit is totally free.

Can I open a Colonybit account even not having any cryptocurrencies investments?

Yes, you can. Colonybit aims to democratize everyone access to the crypto environment. Everybody can have your own accont, and to obtain a bitcoin or other cryptocoins you just have make your first purchase on the Colonybit platform.

I forgot my login and password, what do I do now?

You just have to click on "Forgot my password" link on the login area, and we will send you an e-mail to reset your password or informing your login.

I don't remember my PIN, how can I recover it?

To recover your PIN, just click on Profile, Update Password/PIN, PIN, and than Send e-mail. After doing that we will sent you and email with a link where you will be able to change your PIN.

Can I change my Username?

No. Once registered, your username can NOT be changed on the Colonybit platform..

What documents do I need to create a COLONYBIT account?

You need the identity document and proof of residence. Both documents should have their photos submitted. In addition to these, it is also important to send a photo holding the identity card overlaying a paper written COLONYBIT with the current date.

What is the deadline for verification of the documents?

The period for verification of documents is 24 to 48 business hours. After the account is verified, you will receive a notification email.

I created the account, but I can't buy my Bitcoin. Why?

This may be because you have not filled out your personal and bank information. To update your data, simply go to Profile, My Profile, Payment, then click Edit to make the changes you need and insert the photos of the requested documents. After filling in all the fields, click CHECK ACCOUNT.

I registered a wrong bank account. Can I alter it?

Yes, just go to Profile, My Profile, Payment, then click on Edit you can change all your bank account information.

Can I register more then one bank account on my colonybit account?

Yes, you don't have a limited number of bank accounts that you can put on your Colonybit accont.

What's the difference in having an AGENT account?

Accredited AGENTS have an exclusive trading platform and do not pay any fees to negotiate with users. Meanwhile, users pay a 1% fee on each transaction.

What do I need to have an AGENT account?

In order to have an accredited AGENT account it is necessary to make a user registration and to carry out the first transactions. As you conduct your negotiations, your score goes up, level by level, until you reach the AGENT class. You can check the levels here.

If I no longer want to have my account, is there a fee/penalty I have to pay?

No, COLONYBIT does not charge customers any fines. You are free to close your account at any time, without any kind of charge. Just contact our team and request the closure of your account.

What is Bitcoin?

Bitcoin is the first, major e most innovative decentralized cryptocurrency on the market.It was created on October, 2018 by Satoshi Nakamoto, as an alternative to traditional money. The Bitcoins, as any other cryptocurrency, only exists on the online universe. Which provides to everybody, anywhere in the world, the possibility of having the Bitcoin. It is totally a peer-to-peer system.

What means a peer-to-peer (P2P) negotiation?

Making a P2P transaction means that you negotiate directely with other people. In other words, you choose who, when, where and how you want to make your negotiation. Besides having total control over your bitcoin, you have the freedom to choose the best conditions, and even benefit from it’s security and their own economy. That’s because it’s on your hands to stablish the taxes/fees to be payed in each transaction. All in a direct, transparent and simple way without abusive taxes/fees.

What are cryptocurrencies?

Cryptocurrencies are the digital only currency. Their encryption and their blockchain technology provide both the validity and the securiy of transactions. Another cryptocurrencies caracteristic is the decentralization, which means that they are not controled by any Governements, financial institution or any other body. On the contrary, the users themselves who have control over their own cryptocurrencies and are free to trade the wherever and whenever they want.

What is blockchain?

Blockchain is the technology that supports the cryptocurrencies, which was developed by Bitcoin. It is a public book in which all cryptocoins transactions are recorded and validated. It is blockchain’s responsability to certify transactions, preventing fraud or duplicate offers, as well as ensuring the privacy of user data through encryption.

Are cryptocoins a safe investment?

Yes, they are. Because they are developed in a blockchain network, cryptocoins have a high level security. As any investment, there are chances of profits and risks, so it is always important to be careful and broaden your knowledge about the subject, not exposing your investment to a risk that you are not able to support.

What is the minimum amount of money I need to invest in cryptocoins with COLONYBIT?

The minimum amount to start buying cryptocoins with COLONYBIT is only US$ 50.

How do I withdraw my cryptocoins?

Just enter the wallet address where you want to sent your withdraw. Enter the desired value and perform will make the transaction.

Can I pay anything online with cryptocoins?

Yes, as long as the company accepts this form of payment. Cryptocoins have already become a payment option for several companies around the world. Therefore, it is increasingly common to find them as an option for customers.

How much does a Bitcoin cost?

Bitcoin does not have a fixed value, that’s because it has a high volatility which occurs every minute. However, on the COLONYBIT platform, you always have access to the updated, real-time Bitcoin value.

Can I buy less then one Bitcoin?

Yes, you can. Anyone could buy or sell Bitcoin fractions. You do not have the need to buy a whole unit of it, you can buy the amount you want by paying it’s corresponding value.

COLONYBIT Support

Platform person-to-person of buy and sell bitcoin and cryptocurrencies, developed in blockchain.

Office Hours

Monday to Friday - 08AM to 05PM

contact@colonybit.com